Helmerich & Payne, Inc. (HP) Cut to Strong Sell at BidaskClub
BidaskClub downgraded shares of Helmerich & Payne, Inc. (NYSE:HP) from a sell rating to a strong sell rating in a research note issued to investors on Friday morning.
Other equities research analysts have also recently issued research reports about the stock. UBS AG restated a buy rating and issued a $86.00 target price (down previously from $91.00) on shares of Helmerich & Payne in a report on Tuesday, May 2nd. Royal Bank Of Canada set a $80.00 target price on shares of Helmerich & Payne and gave the stock a hold rating in a report on Saturday, July 1st. Vetr upgraded shares of Helmerich & Payne from a hold rating to a buy rating and set a $55.00 target price on the stock in a report on Monday, July 10th. Zacks Investment Research upgraded shares of Helmerich & Payne from a sell rating to a hold rating in a research note on Thursday, July 13th. Finally, Seaport Global Securities reiterated a sell rating on shares of Helmerich & Payne in a research note on Thursday, July 20th. Seven analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $56.77.
Shares of Helmerich & Payne (NYSE HP) traded down 0.87% during trading on Friday, hitting $50.18. The stock had a trading volume of 914,776 shares. The firm’s market cap is $5.45 billion. The stock has a 50 day moving average of $54.11 and a 200 day moving average of $62.50. Helmerich & Payne has a 52-week low of $49.46 and a 52-week high of $85.78.
Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.05. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The company had revenue of $498.60 million for the quarter, compared to analysts’ expectations of $452.42 million. During the same quarter last year, the company posted ($0.20) earnings per share. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. On average, equities analysts anticipate that Helmerich & Payne will post ($1.32) EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 5.53%. Helmerich & Payne’s dividend payout ratio is currently -167.66%.
Hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans increased its stake in shares of Helmerich & Payne by 5.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,760 shares of the oil and gas company’s stock worth $291,000 after buying an additional 210 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Helmerich & Payne by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 154,623 shares of the oil and gas company’s stock worth $11,968,000 after buying an additional 6,096 shares in the last quarter. Kentucky Retirement Systems bought a new stake in shares of Helmerich & Payne during the fourth quarter worth about $608,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Helmerich & Payne during the fourth quarter worth about $271,000. Finally, Macquarie Group Ltd. increased its stake in shares of Helmerich & Payne by 0.9% in the fourth quarter. Macquarie Group Ltd. now owns 53,350 shares of the oil and gas company’s stock worth $4,129,000 after buying an additional 500 shares in the last quarter.
About Helmerich & Payne
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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